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    320 W Cervantes St Pensacola, FL 32501

    View on Map
    Sponsored
    Source: https://www.saltercompany.com
    For Sale
    $370,000

    Income-producing, renovated historic office building.

    Property size:
    2,477 SF

    Property Features for 320 W Cervantes St

    General Information

    Property type
    Residential offices
    Square Feet
    2,477 SF
    Price / Square Foot
    $149
    Class
    B
    Total Parking Spaces
    5
    Elevators
    N/A
    Net Rentable
    1,757 SF
    Lot Size
    9,486 SF
    Net Operating Income
    $27,300

    Building Details

    Year Built/Renovated
    1908/1990
    Buildings
    1
    Stories
    1

    Overview

    Historic Pensacola Office Building For Sale

    This renovated historic office building, originally constructed in 1908 and updated in 1980, is situated in Pensacola, Florida, within the North Hill Preservation District, which is zoned PR-2. The property features five offices, an updated kitchen, two restrooms (one with a shower), and two storage rooms. A sunroom with an ADA-compliant wheelchair ramp is included. The HVAC system was upgraded in 2023. Architectural details include wood molding, five capped-off hand-carved fireplaces, original wood doors and hardware, leaded glass windows, 11-foot ceilings, and refinished hardwood floors. The property also has a front and side porch. Five dedicated parking spaces are available, along with a shared driveway easement. Located on Cervantes Street, between Reus and Barcelona Streets, the property offers high visibility and access to downtown amenities and professional businesses. This income-generating property is situated on a 0.2177 acre lot and has a net size of 1,757 sq ft and a total building size of 2,477 sq ft. The property generates a net operating income of $27,300.

    We can help!

    Listing Contact
    Paul Salter

    Learn more

    Property Insight Report

    HighLights

    • 1,757 SF renovated historic building in Pensacola, FL, generating $27,300 net operating income.
    • Prime location on Cervantes Street, near downtown, with five parking spaces and high visibility.
    • Features five offices, updated kitchen, two restrooms (one with shower), and two storage rooms; HVAC upgraded 2023.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Shane Gordon at Guaranteed ... Loan Service Shane Frederic at Guaranteed ... Loan Service Papa John's Pizza Restaurant Ron Vega at Guaranteed ... Loan Service Fur Kids Allergy ... Veterinary Clinic

    Suggested Use

    Real Estate Agency Restaurant Dental Office Spa & Massage Center Hair Salon Law Firm Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Pensacola
    State
    Florida
    Longitude
    -87.212492
    Latitude
    30.47138

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    FAQs

    What type of property is this?
    Residential office - Income-producing, renovated historic office building.
    Where is this residential office located?
    The property is located at 320 W Cervantes St Pensacola, FL.
    What is the asking price?
    The asking price for this property is $370,000.
    What are key features of this property?
    This property features: 1,757 SF renovated historic building in Pensacola, FL, generating $27,300 net operating income.; Prime location on Cervantes Street, near downtown, with five parking spaces and high visibility.; Features five offices, updated kitchen, two restrooms (one with shower), and two storage rooms; HVAC upgraded 2023.
    (850) 564-0120
    Request Owner's contact information
    320 W Cervantes St Pensacola, FL 32501
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    Pensacola, FL 32501
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    320 W Cervantes St Pensacola, FL 32501
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    We can help!
    Listing Contact
    Paul Salter
    (850) 564-0120
    Learn more
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